Daily Current Affairs – June 11, 2024
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Daily Current Affairs - Banking - June 11, 2024
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National News
DARPG released the 25th monthly Report on CPGRAMS of Central Ministries/Department's performance for May, 2024
- The Department of Administrative Reforms and Public Grievances (DARPG) released the Centralized Public Grievance Redressal and Monitoring System (CPGRAMS) monthly report for May, 2024, which provides a detailed analysis of types and categories of public grievances and the nature of disposal.
- This is the 25th report on Central Ministries/Departments published by
- A total of 1,05,991 Grievances were Redressed by Central Ministries/Departments in May, 2024
- The Average Grievance Disposal Time in the Central Ministries/Departments from January to May, 2024 is 12 days.
- These reports are part of the 10-step CPGRAMS reform process which was adopted by DARPG to improve the quality of disposal and reduce the timelines.
- A total of 49486 new users registered in the month of May, 2024, with maximum registrations from Uttar Pradesh (7323) followed by Maharashtra with the number standing at 5290 registrations.
- For the 23rd month in a row, the monthly disposal crossed 1 lakh cases in the Central Secretariat
- Department of Revenue, Central Board of Indirect Taxes and Customs and Ministry of Drinking Water and Sanitation topped in Group A category in the rankings released for the month of May, 2024
- NITI Aayog, Ministry of Parliamentary Affairs and Ministry of Ayush topped in Group B category in the rankings released for the month of May, 2024
Urban-Rural Consumption Expenditure Differential Falls to 71% In 2022-23: Survey: MoSPI Survey
- The Survey on Household Consumption Expenditure by the Ministry of Statistics and Programme Implementation has found that Rural India’s average monthly capital expenditure stood 71 percent lower than Urban India in the period from August 2022 to July 2023.
- The survey said that rural India on average, clocked a monthly Per capita consumption expenditure (MPCE of ₹3,773) in the period under review.
- At Urban India’s average estimated MPCE during the period stood at 6,459 rupees.
- The survey stated that in the 2022-23 period, Rural India spent 46 percent of its household consumption expenditure towards food.
- The National Sample Survey Office has been regularly conducting household consumption expenditure surveys since its establishment in 1950.
16th edition of Bhoomi Habba, a celebration of eco consciousness
- The 16th edition of Bhoomi Habba (the earth festival) was held at the Visthar campus.
- The festival drew a vibrant crowd who came together to celebrate eco-consciousness through a variety of engaging activities, creative workshops, panel discussions, interactive exhibits and performances, all centered around.
- Bhoomi Habba shares in the vision of a world held together by peace, justice and harmony.
- They celebrate people and ways of living that care for our earth.
- They honour individuals and collectives who have risked much to live gently on the earth and to resist destruction.
- The theme of Bhoomi Habba2024: “Save Water, Save Lives.”
International News
India Participates in BRICS Foreign Ministers Meeting In Russia
- India participated in the BRICS foreign ministers’ meeting, which commenced in Nizhny Novgorod, Russia.
- This marks the first foreign policy assignment for India under Prime Minister Narendra Modi’s historic third consecutive term.
- Dammu Ravi, Secretary (Economic Relations) at the Ministry of External Affairs (MEA), led the Indian delegation at the meeting.
- Russian Foreign Minister Sergey Lavrov opened the BRICS Ministerial with a minute of silence in memory of the deceased former Iranian President Ebrahim Raisi and Iranian Foreign Minister Hossein Amir-Abdollahian.
- This is the first meeting of foreign ministers since the expansion of BRICS in 2023.
- The 10 full members of the association now include Brazil, Russia, India, China, and South Africa, with new members Egypt, Iran, UAE, Saudi Arabia, and Ethiopia joining the grouping in 2023.
- Russia assumed the chairmanship of BRICS on January 1, 2024.
State News
Social media channels to publicise State government welfare schemes
- The Department of Information and Public Relations has started a WhatsApp channel ‘TNDIPR, Govt. of Tamil Nadu’.
- The channel would help people become aware of the various welfare schemes implemented by the State government.
- An official release said the Tamil Nadu government under Chief Minister M.K. Stalin has been implementing several welfare measures for the people.
- To take such measures to the public, social media pages have been started in mediums, such as Facebook, Instagram, Twitter and YouTube.
- It used via QR code by scanning through Whatsapp.
Schemes
Government to provide assistance to construct 3 crore rural and urban houses under Pradhan Mantri Awas Yojana (PMAY)
- The Government of India has decided to provide assistance for the construction of houses to an additional 3 crore rural and urban households under the Pradhan Mantri Awas Yojana (PMAY).
- PMAY has been in implementation since 2015-16, with the aim of providing housing assistance to eligible poor families across the country.
- Over the last 10 years, a total of 4.21 crore houses have been completed for these beneficiaries under the scheme.
- All the houses constructed under PMAY are provided with basic amenities such as household toilets, LPG connections, electricity connections, and functional household tap connections, through convergence with other schemes of the Central and State Governments.
- It is a flagship Mission of Government of India being implemented by Ministry of Housing and Urban Affairs (MoHUA), was launched on June 25, 2015.
Banking and Finance
Centre releases ₹1,39,750 crore instalment of Tax Devolution to States
- Ministry of Finance has released an additional instalment of tax devolution to states for June 2024.
- The total amount released to states for June now stands at ₹1,39,750 crores.
- This decision was taken to accelerate development projects of different states so that their all projects should not get delayed because of capital requirement.
- Finance Ministry’s decision to release tax devolution was taken following a high-level meeting with the Finance Secretary and the Secretary of the Department of Economic Affairs
- The biggest chunk of the fund went to Uttar Pradesh at ₹25,069.88 crores, followed by Bihar at ₹14,056.12 crores, Madhya Pradesh got ₹10,970.44 crores, and West Bengal was devolved ₹10,513.46 crores.
- The additional instalment of funds is part of a broader fiscal strategy outlined in the Interim Budget for 2024-25, which has allocated ₹12,19,783 crores towards the devolution of taxes to states.
- State governments will benefit from this enhanced financial support, enabling them to accelerate their capital expenditures, including critical infrastructure projects such as road construction, public facilities, and other development initiatives.
Kotak Mutual Fund launches Kotak Special Opportunities Fund
- Kotak Mutual Fund (MF) announced the launch of Kotak Special Opportunities Fund.
- The scheme will look to take advantage of uncertainties across the economy, industry and company levels.
- This aims to generate long term capital growth through investing in equity and equity related securities of companies benefitting from different special situations such as company specific events, corporate restructuring, government policy change, regulatory changes, technology led disruption or companies going through temporary but unique challenges, etc.
- The fund would look for such opportunities across market capitalisation.
- The new fund offering (NFO) will remain open for subscription till June 24.
Cashless health claim settlement: IRDAI asks insurers to deploy systems by July 31
- Insurance companies will have to go for cashless settlement of health insurance claims from August 1,2024, making hospital bill settlement of policyholders smoother and faster.
- The Insurance Regulatory and Development Authority of India (IRDAI) has said necessary systems and procedures should be put in place by the insurer immediately and not later than July 31, 2024.
- Every insurer should strive to achieve 100 per cent cashless claim settlement.
- Insurance Regulatory and Development Authority of India (IRDAI) – 19/04/2000 – Hyderabad (HQ) – Debasish Panda (Chairman)
Business and Economy
Life insurance industry's new business premium grew 15.5% in May
- According to Life Insurance Council’s data, the life insurance industry’s new business premium (NBP) increased by 15.5 per cent year-on-year (Y-o-Y) in May 2024, aided by growth across segments.
- The industry earned premiums worth ₹27,034.2 crores in May 2024 compared to ₹23,477.8 crores in May 2023
- LIC’s premiums increased by 18.7 per cent to ₹16,690 crores in May 2024 from ₹14,056.3 crores May 2023 on the back of strong growth in its group business.
Science and Technology
ISRO releases images of Sun captured by Aditya-L1 during May solar storm
- Indian Space Research Organisation (ISRO) has released stunning images of the Sun captured by the Aditya L1 satellite during a major geomagnetic storm in May.
- The two remote sensing payloads, namely the Solar UltraViolet Imaging Telescope (SUIT) and the Visible Emission Line Coronagraph (VELC), along with other payloads, captured these images from the Lagrange point in space.
- The images released by ISRO clearly show magnetically active regions with large solar flares on the Sun’s surface.
- The solar emissions depict the relative brightness of sunspots, umbra, penumbra, and plages.
- ISRO states that these images will assist astrophysicist in studying solar flares, their energy distribution, sunspots, UV radiation across a wide wavelength range, and long-term solar variations.
- Indian Space Research Organisation (ISRO) – 15/08/1969 (Founded) – Bangalore, India (HQ) – Sreedhara Somanath (Chairman)
Apple brings ChatGPT to iPhone, unveils Apple Intelligence
- Apple unveiled a long-awaited AI strategy integrating “Apple Intelligence” across its suite of apps including Siri, and announced a partnership with OpenAI to bring ChatGPT to its devices.
- With these moves, the iPhone maker is seeking to reassure investors that it has not lost the AI battle to Microsoft, even though it may have forfeited a few rounds.
- Microsoft took an early lead in the race to commercialize AI through its bet on
- The AI features were unveiled at its Worldwide Developers Conference and Apple also showed its latest operating system for its Vision Pro mixed-reality headset and iPhone.
IIT Madras, NASA researchers study multi-drug resistant pathogens on international space station
- Indian Institute of Technology Madras and NASA’s Jet Propulsion Laboratory (JPL) researchers are studying multi-drug resistant pathogens on the International Space Station (ISS), which could have key applications on earth as well for the health of astronauts.
- The researchers conducted a comprehensive study to understand the genomic, functional, and metabolic enhancements observed in multidrug-resistant pathogens with a particular focus on Enterobacter bugandensis, a prevalent nosocomial (hospital acquired infection) pathogen found on surfaces within the ISS.
- Astronauts operating in altered immune conditions with limited access to traditional medical facilities face unique health challenges during space missions.
- Understanding the microbial landscape aboard the ISS is paramount for assessing the impact of these microorganisms on astronaut well-being.
- The current study emphasises the critical need to investigate the pathogenic potential of microorganisms in space environments to safeguard astronaut health and mitigate the risks associated with opportunistic pathogens.
- National Aeronautics and Space Administration (NASA) – 29/07/1958 (Founded) – Washington DC (HQ) – Bill Nelson (Administrator)
Acquisitions and Mergers
Bank of India acquires 6.1% stake in CCIL IFSC
- The Bank of India has acquired a 6.125 per cent stake in the recently incorporated Clearing Corporation of India Ltd. (IFSC) listed in the GIFT SEZ in Gujarat.
- Bank of India Executive Director (International Operations) Subrat Kumar made the announcement.
- Promoted by Clearing Corporation of India Limited (CCIL), CCIL IFSC is the proposed entity to build and operate a real-time foreign currency settlement system at GIFT City.
- While inaugurating the IFSC Banking Unit at GIFT City 2023, the bank had set an ambitious target of touching a business of USD 1 billion in the first year of operation with equal distributions of advances.
- Bank of India – 07/09/1906 (Founded) – Mumbai (HQ) – Atanu Kumar Das (MD & CEO) – “Relationship Beyond Banking”
Appointments
OpenAI hires former Nextdoor CEO Sarah Friar as first CFO
- OpenAI had hired Sarah Friar, the former CEO of social media firm Nextdoor, as its first chief financial officer(CFO).
- The artificial intelligence firm has also appointed Kevin Weil, who has previously worked at Twitter, Facebook and Instagram, as chief product officer.
- Friar earlier served as CFO at Square and is also a member of Walmart’s board.
- She has also previously worked at Goldman Sachs, McKinsey, and Salesforce.
- The new appointments follow the departure of OpenAI co-founder and chief scientist Ilya Sutskever in May, who was replaced by Jakub Pachocki.
- Pachocki has previously served as OpenAI’s director of research and led the development of GPT-4 and OpenAI Five.
Inder Pal Singh Bindra appointed as CCI Secretary
- An Indian Revenue Service (IRS) officer, Inder Pal Singh Bindra has been appointed as a New Secretary of Competition Commission of India (CCI).
- Bindra will replace Anupama Anand, who has resigned after being appointed in September 2023 for a period of 3 years.
- Prior to his appointment as CCI Secretary, Bindra was posted as an officer in the income tax department.
- He has now been appointed as CCI Secretary on deputation basis for three years.
- Competition Commission of India (CCI) – 14/10/2003 (Founded) – New Delhi (HQ) – Ravneet kaur (Chairperson)
Cabinet Ministers of 2024
Shri Narendra Modi | Prime Minister and also in-charge of: | |
Cabinet Ministers | ||
1 | Shri Raj Nath Singh | Minister of Defence. |
2 | Shri Amit Shah | Minister of Home Affairs; and |
3 | Shri Nitin Jairam Gadkari | Minister of Road Transport and Highways. |
4 | Shri Jagat Prakash Nadda | Minister of Health and Family Welfare; and |
5 | Shri Shivraj Singh Chouhan | Minister of Agriculture and Farmers Welfare; and |
6 | Smt. Nirmala Sitharaman | Minister of Finance; and |
7 | Dr. Subrahmanyam Jaishankar | Minister of External Affairs. |
8 | Shri Manohar Lal | Minister of Housing and Urban Affairs; and |
9 | Shri H. D. Kumaraswamy | Minister of Heavy Industries; and |
10 | Shri Piyush Goyal | Minister of Commerce and Industry. |
11 | Shri Dharmendra Pradhan | Minister of Education. |
12 | Shri Jitan Ram Manjhi | Minister of Micro, Small and Medium Enterprises. |
13 | Shri Rajiv Ranjan Singh alias Lalan Singh | Minister of Panchayati Raj; and |
14 | Shri Sarbananda Sonowal | Minister of Ports, Shipping and Waterways. |
15 | Dr. Virendra Kumar | Minister of Social Justice and Empowerment. |
16 | Shri Kinjarapu Rammohan Naidu | Minister of Civil Aviation. |
17 | Shri Pralhad Joshi | Minister of Consumer Affairs, Food and Public Distribution; and |
18 | Shri Jual Oram | Minister of Tribal Affairs. |
19 | Shri Giriraj Singh | Minister of Textiles. |
20 | Shri Ashwini Vaishnaw | Minister of Railways; |
21 | Shri Jyotiraditya M. Scindia | Minister of Communications; and |
22 | Shri Bhupender Yadav | Minister of Environment, Forest and Climate Change. |
23 | Shri Gajendra Singh Shekhawat | Minister of Culture; and |
24 | Smt. Annpurna Devi | Minister of Women and Child Development |
25 | Shri Kiren Rijiju | Minister of Parliamentary Affairs; and |
26 | Shri Hardeep Singh Puri | Minister of Petroleum and Natural Gas |
27 | Dr. Mansukh Mandaviya | Minister of Labour and Employment; and |
28 | Shri G. Kishan Reddy | Minister of Coal; and |
29 | Shri Chirag Paswan | Minister of Food Processing Industries. |
30 | Shri C R Patil | Minister of Jal Shakti. |
Ministers of State (Independent Charge) | ||
1 | Rao Inderjit Singh | Minister of State (Independent Charge) of the Ministry of Statistics and Programme Implementation; |
2 | Dr. Jitendra Singh | Minister of State (Independent Charge) of the Ministry of Science and Technology; |
3 | Shri Arjun Ram Meghwal | Minister of State (Independent Charge) of the Ministry of Law and Justice; and |
4 | Shri Jadhav Prataprao Ganpatrao | Minister of State (Independent Charge) of the Ministry of Ayush; and |
5 | Shri Jayant Chaudhary | Minister of State (Independent Charge) of the Ministry of Skill Development and Entrepreneurship; and |
Ministers of State | ||
1 | Shri Jitin Prasada | Minister of State in the Ministry of Commerce and Industry; and |
2 | Shri Shripad Yesso Naik | Minister of State in the Ministry of Power; and |
3 | Shri Pankaj Chaudhary | Minister of State in the Ministry of Finance. |
4 | Shri Krishan Pal | Minister of State in the Ministry of Cooperation. |
5 | Shri Ramdas Athawale | Minister of State in the Ministry of Social Justice and Empowerment. |
6 | Shri Ram Nath Thakur | Minister of State in the Ministry of Agriculture and Farmers Welfare. |
7 | Shri Nityanand Rai | Minister of State in the Ministry of Home Affairs. |
8 | Smt. Anupriya Patel | Minister of State in the Ministry of Health and Family Welfare; and |
9 | Shri V. Somanna | Minister of State in the Ministry of Jal Shakti; and |
10 | Dr. Chandra Sekhar Pemmasani | Minister of State in the Ministry of Rural Development; and |
11 | Prof. S. P. Singh Baghel | Minister of State in the Ministry of Fisheries, Animal Husbandry and Dairying; and |
12 | Sushri Shobha Karandlaje | Minister of State in the Ministry of Micro, Small and Medium Enterprises; and |
13 | Shri Kirtivardhan Singh | Minister of State in the Ministry of Environment, Forest and Climate Change; and |
14 | Shri B. L. Verma | Minister of State in the Ministry of Consumer Affairs, Food and Public Distribution; and |
15 | Shri Shantanu Thakur | Minister of State in the Ministry of Ports, Shipping and Waterways. |
16 | Shri Suresh Gopi | Minister of State in the Ministry of Petroleum and Natural Gas; and |
17 | Dr. L. Murugan | Minister of State in the Ministry of Information and Broadcasting; and |
18 | Shri Ajay Tamta | Minister of State in the Ministry of Road Transport and Highways. |
19 | Shri Bandi Sanjay Kumar | Minister of State in the Ministry of Home Affairs. |
20 | Shri Kamlesh Paswan | Minister of State in the Ministry of Rural Development. |
21 | Shri Bhagirath Choudhary | Minister of State in the Ministry of Agriculture and Farmers Welfare. |
22 | Shri Satish Chandra Dubey | Minister of State in the Ministry of Coal; and |
23 | Shri Sanjay Seth | Minister of State in the Ministry of Defence. |
24 | Shri Ravneet Singh | Minister of State in the Ministry of Food Processing Industries; and |
25 | Shri Durgadas Uikey | Minister of State in the Ministry of Tribal Affairs. |
26 | Smt. Raksha Nikhil Khadse | Minister of State in the Ministry of Youth Affairs and Sports. |
27 | Shri Sukanta Majumdar | Minister of State in the Ministry of Education; and |
28 | Smt. Savitri Thakur | Minister of State in the Ministry of Women and Child Development. |
29 | Shri Tokhan Sahu | Minister of State in the Ministry of Housing and Urban Affairs. |
30 | Shri Raj Bhushan Choudhary | Minister of State in the Ministry of Jal Shakti. |
31 | Shri Bhupathi Raju Srinivasa Varma | Minister of State in the Ministry of Heavy Industries; and |
32 | Shri Harsh Malhotra | Minister of State in the Ministry of Corporate Affairs; and |
33 | Smt. Nimuben Jayantibhai Bambhaniya | Minister of State in the Ministry of Consumer Affairs, Food and Public Distribution. |
34 | Shri Murlidhar Mohol | Minister of State in the Ministry of Cooperation; and |
35 | Shri George Kurian | Minister of State in the Ministry of Minority Affairs; and |
36 | Shri Pabitra Margherita | Minister of State in the Ministry of External Affairs; and |
Ranks and Indices
Southeast Asia tops as short vacation choice for Indian
- Bali emerged as the top destination, with 38 per cent of respondents voting in its favour in the survey conducted by OYO Global Summer Vacations Travelopedia 2024.
- It was followed by Pattaya, Bangkok, and Dubai.
- Southeast Asian destinations such as Indonesia and Malaysia emerged as preferred countries following relaxed visa norms.
- The survey highlighted the rise of remote work among Indian travellers, with Indonesia and Malaysia attracting “digital nomads” looking to combine work and travel in summer.
- Dubai has launched a five-year multiple-entry visa to increase ease of travel between India and the Gulf region.
Daily Current Affairs - June 11, 2024 - Consolidated
- DARPG released the 25th monthly Report on CPGRAMS of Central Ministries/Department’s performance for May, 2024
- Urban-Rural Consumption Expenditure Differential Falls to 71% In 2022-23: Survey: MoSPI Survey
- 16th edition of Bhoomi Habba, a celebration of eco consciousness
- India Participates in BRICS Foreign Ministers Meeting In Russia
- Social media channels to publicise State government welfare schemes
- Government to provide assistance to construct 3 crore rural and urban houses under Pradhan Mantri Awas Yojana (PMAY)
- Centre releases ₹1,39,750 crore instalment of Tax Devolution to States
- Kotak Mutual Fund launches Kotak Special Opportunities Fund
- Cashless health claim settlement: IRDAI asks insurers to deploy systems by July 31
- Life insurance industry’s new business premium grew 15.5% in May
- ISRO releases images of Sun captured by Aditya-L1 during May solar storm
- Apple brings ChatGPT to iPhone, unveils Apple Intelligence
- IIT Madras, NASA researchers study multi-drug resistant pathogens on international space station
- Bank of India acquires 6.1% stake in CCIL IFSC
- OpenAI hires former Nextdoor CEO Sarah Friar as first CFO
- Inder Pal Singh Bindra appointed as CCI Secretary
- Cabinet Ministers of 2024
- Southeast Asia tops as short vacation choice for Indian
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